We are proud to present this 6-unit multifamily investment asset at 1411 Orchard Ave, also known as 1410 S Westmoreland Ave, in the continually emerging pocket of Pico Union, which is located just to the West of Downtown LA and to the south of Koreatown. As it currently stands, the property consists of (1) Studio unit, (2) 1 Bed / 1 Bath units, (2) 3 Bed / 1 Bath units, and (1) 2 Bed/ 1 Bath detached house behind the main structure. Three of the six units have been fully renovated in the last 6 months, and the property has two current vacancies. The buyer can choose to keep those units vacant for the close of escrow, or they can be leased up during escrow depending on the buyer's investment strategy. The fully renovated units boast beautiful laminate wood floors, stainless steel appliances, new windows, new wall A/C and heating units, and new bathroom vanities which will generate top rents for this area. Within close proximity to both Interstate 10, and the 101 Freeways, tenants residing here will be able to easily access Hollywood, Downtown LA, and Beach Cities with ease, allowing them to regularly enjoy all the entertainment this vibrant city has to offer. The property will also be delivered with RTI plans to convert the detached garages into (2) detached 1 Bed ADUs. Not only will this generate increased rental income for the investor, but will increase the total value to an estimated $2,500,000. Another way an investor can create value is to install coin laundry on the side yard, for which plumbing was installed during renovations, and by charging tenants for parking in addition and separate from their lease. With the right strategy and execution, a new investor could add even more value to this well positioned asset that's already undergone significant recent upgrades.
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